New Risk • Jun 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 28
First quarter 2026 earnings released: EPS: RM0.009 (vs RM0.013 in 1Q 2025) First quarter 2026 results: EPS: RM0.009 (down from RM0.013 in 1Q 2025). Revenue: RM296.5m (down 9.9% from 1Q 2025). Net income: RM17.0m (down 6.5% from 1Q 2025). Profit margin: 5.7% (up from 5.5% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Declared Dividend • May 21
Dividend of RM0.02 announced Shareholders will receive a dividend of RM0.02. Ex-date: 27th August 2026 Payment date: 17th September 2026 Dividend yield will be 7.2%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (51% earnings payout ratio) but not covered by cash flows (133% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Nuraini Binti Ismail was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 30
LBS Bina Group Berhad, Annual General Meeting, Jun 19, 2026 LBS Bina Group Berhad, Annual General Meeting, Jun 19, 2026, at 10:00 Singapore Standard Time. Location: function room, level 5, plaza seri setia, no. 1, jalan ss9/2, 47300 petaling jaya, selangor darul ehsan, Malaysia Upcoming Dividend • Apr 22
Upcoming dividend of RM0.013 per share Eligible shareholders must have bought the stock before 29 April 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 47% but the company is paying out more than the cash it is generating. Trailing yield: 6.6%. Within top quartile of Malaysian dividend payers (5.5%). Higher than average of industry peers (3.1%). New Risk • Feb 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (110% cash payout ratio). Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: RM0.071 (vs RM0.042 in FY 2024) Full year 2025 results: EPS: RM0.071 (up from RM0.042 in FY 2024). Revenue: RM1.55b (up 8.3% from FY 2024). Net income: RM125.2m (up 91% from FY 2024). Profit margin: 8.1% (up from 4.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Dec 01
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.4% net profit margin). New Risk • Nov 29
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 5.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: RM0.018 (vs RM0.022 in 2Q 2024) Second quarter 2025 results: EPS: RM0.018 (down from RM0.022 in 2Q 2024). Revenue: RM309.8m (down 28% from 2Q 2024). Net income: RM29.5m (down 32% from 2Q 2024). Profit margin: 9.5% (in line with 2Q 2024). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 21
Upcoming dividend of RM0.011 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 25 September 2025. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Malaysian dividend payers (5.6%). Higher than average of industry peers (3.2%). Declared Dividend • Jul 11
First quarter dividend of RM0.011 announced Shareholders will receive a dividend of RM0.011. Ex-date: 28th August 2025 Payment date: 25th September 2025 Dividend yield will be 10%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 79% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Jun 12
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 19 June 2025. Payment date: 10 July 2025. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Malaysian dividend payers (5.6%). Higher than average of industry peers (3.7%). New Risk • Jun 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.3% net profit margin). Reported Earnings • May 06
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: RM0.042 (down from RM0.081 in FY 2023). Revenue: RM1.43b (down 21% from FY 2023). Net income: RM65.4m (down 48% from FY 2023). Profit margin: 4.6% (down from 6.9% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) exceeded analyst estimates by 59%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Ankündigung • Apr 29
LBS Bina Group Berhad, Annual General Meeting, Jun 26, 2025 LBS Bina Group Berhad, Annual General Meeting, Jun 26, 2025, at 14:30 Singapore Standard Time. Location: function room, level 5, plaza seri setia, no. 1, jalan ss9/2, 47300 petaling jaya, selangor darul ehsan, Malaysia Declared Dividend • Apr 14
Dividend of RM0.01 announced Shareholders will receive a dividend of RM0.01. Ex-date: 19th June 2025 Payment date: 10th July 2025 Dividend yield will be 11%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (8% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 49% over the next 3 years. However, it would need to fall by 91% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 21
Full year 2024 earnings released: EPS: RM0.14 (vs RM0.077 in FY 2023) Full year 2024 results: EPS: RM0.14 (up from RM0.077 in FY 2023). Revenue: RM1.43b (down 22% from FY 2023). Net income: RM261.8m (up 119% from FY 2023). Profit margin: 18% (up from 6.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Ankündigung • Jan 01
LBS Bina Group Berhad Appoints Eugene Chow Jan Liang as Joint Secretary, Effective January 01, 2025 LBS Bina Group Berhad announced the appointment of Eugene Chow Jan Liang as Joint Secretary with effect from January 01, 2025. Upcoming Dividend • Dec 06
Upcoming dividend of RM0.026 per share Eligible shareholders must have bought the stock before 13 December 2024. Payment date: 30 December 2024. Payout ratio is a comfortable 8.4% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Malaysian dividend payers (5.0%). Higher than average of industry peers (3.5%). Reported Earnings • Nov 30
Third quarter 2024 earnings released: EPS: RM0.10 (vs RM0.021 in 3Q 2023) Third quarter 2024 results: EPS: RM0.10 (up from RM0.021 in 3Q 2023). Revenue: RM377.4m (down 20% from 3Q 2023). Net income: RM169.2m (up 321% from 3Q 2023). Profit margin: 45% (up from 8.5% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 8.2% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Ankündigung • Nov 30
LBS Bina Group Berhad Announces Special Single-Tier Dividend for the Financial Year End December 31, 2024, Payable on 30 December 2024 LBS Bina Group Berhad announced Special Single-tier Dividend of 2.6 sen per ordinary share for the financial year end December 31, 2024. Ex-Date: 13 December 2024. Entitlement date: 16 December 2024. Payment Date: 30 December 2024. Price Target Changed • Aug 24
Price target decreased by 13% to RM0.69 Down from RM0.80, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of RM0.67. Stock is up 24% over the past year. The company is forecast to post earnings per share of RM0.087 for next year compared to RM0.077 last year. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: RM0.022 (vs RM0.022 in 2Q 2023) Second quarter 2024 results: EPS: RM0.022 (in line with 2Q 2023). Revenue: RM431.9m (up 15% from 2Q 2023). Net income: RM43.1m (up 70% from 2Q 2023). Profit margin: 10.0% (up from 6.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 7.7% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 15% per year. Upcoming Dividend • Aug 22
Upcoming dividend of RM0.013 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 12 September 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Malaysian dividend payers (4.7%). Higher than average of industry peers (3.5%). Declared Dividend • Jun 28
Dividend of RM0.013 announced Shareholders will receive a dividend of RM0.013. Ex-date: 29th August 2024 Payment date: 12th September 2024 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 7.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jun 20
Price target increased by 7.4% to RM0.80 Up from RM0.74, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of RM0.77. Stock is up 79% over the past year. The company is forecast to post earnings per share of RM0.087 for next year compared to RM0.077 last year. Ankündigung • Jun 14
LBS Bina Group Berhad Approves Final Single-Tier Dividend for Financial Year End 31 December 2023 LBS Bina Group Berhad at its AGM held on June 13, 2024, approved the payment of a Final Single-Tier Dividend of 1.35 sen per ordinary share for the financial year ended 31 December 2023. Reported Earnings • May 22
First quarter 2024 earnings released: EPS: RM0.015 (vs RM0.015 in 1Q 2023) First quarter 2024 results: EPS: RM0.015 (in line with 1Q 2023). Revenue: RM342.1m (down 11% from 1Q 2023). Net income: RM30.5m (up 33% from 1Q 2023). Profit margin: 8.9% (up from 5.9% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 20
Final dividend increased to RM0.013 Dividend of RM0.013 is 13% higher than last year. Ex-date: 27th June 2024 Payment date: 16th July 2024 Dividend yield will be 3.9%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Ankündigung • Apr 20
LBS Bina Group Berhad, Annual General Meeting, Jun 13, 2024 LBS Bina Group Berhad, Annual General Meeting, Jun 13, 2024. Agenda: To consider the payment of the Final Single-tier Dividend of 1.35 sen per share for the financial year ended 31 December 2023. Ankündigung • Apr 17
LBS Bina Group Berhad Announces Final Single-Tier Dividend of 1.35 Sen Per Ordinary Share for Financial Year End 31 Dec 2023, Payable on 12 Sep 2024 LBS Bina Group Berhad announced Final Single-tier Dividend of 1.35 sen per ordinary share for Financial Year End 31 Dec 2023. Ex-Date 29 Aug. 2024, Entitlement date 30 Aug. 2024 and Payment Date 12 Sep 2024. Ankündigung • Mar 04
LBS Bina Group Berhad Announces the Resignation of Chooy Wai Nee as Joint Secretary LBS Bina Group Berhad announced the resignation of Chooy Wai Nee as Joint Secretary. Date Of Change: 04 March 2024. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: RM0.077 (vs RM0.069 in FY 2022) Full year 2023 results: EPS: RM0.077 (up from RM0.069 in FY 2022). Revenue: RM1.83b (up 6.1% from FY 2022). Net income: RM140.3m (up 31% from FY 2022). Profit margin: 7.7% (up from 6.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Ankündigung • Jan 15
LBS Bina Group Berhad Announces Redesignation of Tan Sri Dato' Sri Ir. (Dr.) Lim Hock San, JP from Executive Chairman to Group Executive Chairman LBS Bina Group Berhad announced redesignation of Tan Sri Dato' Sri Ir. (Dr.) Lim Hock San, JP from previous position Executive Chairman to new position Group Executive Chairman, Directorate is Executive, Age is 66, Gender is Male and Nationality is Malaysia. Date of change is 15 January 2024. Reported Earnings • Nov 22
Third quarter 2023 earnings released: EPS: RM0.021 (vs RM0.018 in 3Q 2022) Third quarter 2023 results: EPS: RM0.021 (up from RM0.018 in 3Q 2022). Revenue: RM471.5m (down 11% from 3Q 2022). Net income: RM40.2m (up 14% from 3Q 2022). Profit margin: 8.5% (up from 6.7% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 24
Price target increased by 17% to RM0.70 Up from RM0.60, the current price target is an average from 3 analysts. New target price is 32% above last closing price of RM0.53. Stock is up 22% over the past year. The company is forecast to post earnings per share of RM0.076 for next year compared to RM0.069 last year. Ankündigung • Aug 22
LBS Bina Group Berhad Reports Written Off Results for the Quarter Ended June 30, 2023 LBS Bina Group Berhad reported written off results for the quarter ended June 30, 2023. For the quarter, the company reported property, plant and equipment written off of MYR 17,000. Upcoming Dividend • Aug 22
Upcoming dividend of RM0.013 per share at 4.9% yield Eligible shareholders must have bought the stock before 29 August 2023. Payment date: 14 September 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (4.2%). Ankündigung • Jun 21
LBS Bina Group Berhad Approves Final Single-Tier Dividend for the Financial Year Ended 31 December 2022 LBS Bina Group Berhad announced that at its AGM held on 20 June 2023, the shareholders approved final single-tier dividend of 1.25 sen per ordinary share for the financial year ended 31 December 2022. Upcoming Dividend • Jun 21
Upcoming dividend of RM0.012 per share at 5.7% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 17 July 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (4.6%). Reported Earnings • May 26
First quarter 2023 earnings released: EPS: RM0.015 (vs RM0.014 in 1Q 2022) First quarter 2023 results: EPS: RM0.015. Revenue: RM384.9k (down 100% from 1Q 2022). Net income: RM30.5k (down 100% from 1Q 2022). Profit margin: 7.9% (up from 5.5% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Real Estate industry in Malaysia. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: RM0.067 (vs RM0.052 in FY 2021) Full year 2022 results: EPS: RM0.067 (up from RM0.052 in FY 2021). Revenue: RM1.72b (up 26% from FY 2021). Net income: RM126.3m (up 57% from FY 2021). Profit margin: 7.3% (up from 5.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.4% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 22
Third quarter 2022 earnings released: EPS: RM0.018 (vs RM0.009 in 3Q 2021) Third quarter 2022 results: EPS: RM0.018 (up from RM0.009 in 3Q 2021). Revenue: RM528.9m (up 108% from 3Q 2021). Net income: RM35.4m (up 95% from 3Q 2021). Profit margin: 6.7% (down from 7.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Malaysia are expected to grow by 5.1%. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 29
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from RM0.06 to RM0.07. Revenue forecast steady at RM1.63b. Net income forecast to grow 11% next year vs 14% growth forecast for Real Estate industry in Malaysia. Consensus price target broadly unchanged at RM0.62. Share price was steady at RM0.42 over the past week. Reported Earnings • Aug 23
Second quarter 2022 earnings released: EPS: RM0.023 (vs RM0.011 in 2Q 2021) Second quarter 2022 results: EPS: RM0.023 (up from RM0.011 in 2Q 2021). Revenue: RM410.4m (up 54% from 2Q 2021). Net income: RM35.1m (up 197% from 2Q 2021). Profit margin: 8.6% (up from 4.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.7%, compared to a 20% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 22
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 29 August 2022. Payment date: 15 September 2022. Payout ratio is a comfortable 35% and the cash payout ratio is 80%. Trailing yield: 4.8%. Within top quartile of Malaysian dividend payers (4.8%). Higher than average of industry peers (3.7%). Reported Earnings • May 19
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: RM0.015 (up from RM0.013 in 1Q 2021). Revenue: RM409.0m (up 1.6% from 1Q 2021). Net income: RM30.2m (up 45% from 1Q 2021). Profit margin: 7.4% (up from 5.2% in 1Q 2021). Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 16%, compared to a 14% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: RM0.051 (up from RM0.026 in FY 2020). Revenue: RM1.36b (up 24% from FY 2020). Net income: RM95.1m (up 134% from FY 2020). Profit margin: 7.0% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 16%, compared to a 16% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year. Reported Earnings • Nov 24
Third quarter 2021 earnings: EPS and revenues miss analyst expectations Third quarter 2021 results: EPS: RM0.009 (down from RM0.01 in 3Q 2020). Revenue: RM254.0m (down 24% from 3Q 2020). Net income: RM18.1m (down 10.0% from 3Q 2020). Profit margin: 7.1% (up from 6.0% in 3Q 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 19%. Earnings per share (EPS) missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 23%, compared to a 1.9% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 03
Second quarter 2021 earnings released: EPS RM0.01 (vs RM0.001 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM265.9m (up 59% from 2Q 2020). Net income: RM16.3m (up RM15.5m from 2Q 2020). Profit margin: 6.1% (up from 0.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 19
Upcoming dividend of RM0.015 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 22 September 2021. Trailing yield: 3.3%. Lower than top quartile of Malaysian dividend payers (4.2%). Lower than average of industry peers (4.0%). Price Target Changed • Jun 30
Price target increased to RM0.63 Up from RM0.57, the current price target is an average from 4 analysts. New target price is 34% above last closing price of RM0.47. Stock is up 29% over the past year. Reported Earnings • May 22
First quarter 2021 earnings released: EPS RM0.013 (vs RM0.006 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM402.6m (up 35% from 1Q 2020). Net income: RM25.2m (up 169% from 1Q 2020). Profit margin: 6.2% (up from 3.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 10
Price target increased to RM0.54 Up from RM0.47, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of RM0.55. Stock is up 47% over the past year. Is New 90 Day High Low • Mar 10
New 90-day high: RM0.47 The company is up 12% from its price of RM0.41 on 10 December 2020. The Malaysian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.11 per share. Executive Departure • Mar 03
Chairman of the Board Bock Seng Lim has left the company On the 1st of March, Bock Seng Lim's tenure as Chairman of the Board ended after 19.2 years in the role. As of December 2020, Bock Seng personally held only 295.71k shares (RM124k worth at the time). A total of 2 executives have left over the last 12 months. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS RM0.026 (vs RM0.039 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: RM1.08b (down 19% from FY 2019). Net income: RM50.6m (down 17% from FY 2019). Profit margin: 4.7% (up from 4.6% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue and earnings miss expectations Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 13%, compared to a 8.9% growth forecast for the Real Estate industry in Malaysia. Is New 90 Day High Low • Jan 22
New 90-day high: RM0.44 The company is up 17% from its price of RM0.38 on 23 October 2020. The Malaysian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.12 per share. Is New 90 Day High Low • Dec 07
New 90-day high: RM0.42 The company is up 1.0% from its price of RM0.42 on 08 September 2020. The Malaysian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.09 per share. Reported Earnings • Dec 01
Third quarter 2020 earnings released: EPS RM0.01 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: RM335.7m (down 14% from 3Q 2019). Net income: RM20.2m (down 4.3% from 3Q 2019). Profit margin: 6.0% (up from 5.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Price Target Changed • Oct 20
Price target raised to RM0.50 Up from RM0.44, the current price target is an average from 5 analysts. The new target price is 26% above the current share price of RM0.40. As of last close, the stock is down 19% over the past year.